Will the Federal Reserve raise rates again in March 2023?
“Stewart countered Summers and asked if it is working class people that are being harmed the most by inflation, why it made sense to address the problem by ‘throw[ing] ten million of them out of work, so we don’t all have to share in that burden.’....... Real wages have fallen for workers, as corporate profits have never been higher, but it will be those whose labor created those profits that are made to pay the highest price for inflation.
The SVB collapse showed the public how quickly the government can come to the aid of millionaires and billionaires. The Fed is expected to increase rates by a quarter of a percent this week. If unemployment does begin to rise, as Chair Powell has predicted it will, the legitimacy of the political establishment that upholds these large financial institutions could begin to crack even wider.”
More turmoil ahead and Gold will be pushed up by safe-haven-seekers in spite of manipulations.
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